Teilinger Capital Ltd. Sells 200,000 Shares of PG&E Co. (NYSE:PCG)

Teilinger Capital Ltd. cut its stake in PG&E Co. (NYSE:PCG) by 28.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,000 shares of the utilities provider’s stock after selling 200,000 shares during the period. PG&E accounts for 1.8% of Teilinger Capital Ltd.’s portfolio, making the stock its 5th largest position. Teilinger Capital Ltd.’s holdings in PG&E were worth $10,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in PCG. Versant Capital Management Inc raised its holdings in PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 626 shares in the last quarter. UMB Bank n.a. raised its holdings in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 1,506 shares in the last quarter. Catalyst Capital Advisors LLC raised its holdings in PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 2,154 shares in the last quarter. Huntington National Bank raised its holdings in PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,195 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 4,819 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PCG. Mizuho upped their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. UBS Group reduced their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Finally, BMO Capital Markets raised their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Stock Up 2.8 %

PCG stock opened at $16.33 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The firm’s 50-day simple moving average is $17.22 and its 200 day simple moving average is $19.05. The stock has a market cap of $43.62 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the company earned $0.47 EPS. As a group, sell-side analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.61%. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.